ETH - Calling All Ethereum Investors: Get Ready to Buy the Dip
2023-04-07 07:15:00 ET
Right now, Ethereum (CRYPTO: ETH) is on a roll. The crypto is up about 3% over the past week, 19% over the past 30 days, and a whopping 55% for the year. Better yet, Ethereum is almost ready to lift the veil on Shanghai, its first major upgrade to the blockchain since The Merge last September. Investors are understandably excited.
However, there is one aspect of the technological upgrade that is starting to concern some crypto investors: the potential for intense selling pressure as soon as Shanghai goes live on April 12. But don't panic -- it will just give investors one more opportunity to buy the dip.
Intense selling pressure? What? Isn't Ethereum going like gangbusters right now? Well, Shanghai is not like any other technical upgrade you might expect from a blockchain. It is a direct result of Ethereum's transformation from a proof-of-work blockchain into proof of stake as part of The Merge last year.
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Calling All Ethereum Investors: Get Ready to Buy the Dip